The empirical analyses in this paper are based on data from the German social security records. The data are subject to very strict 
data protection regulations. Only the code, but not the data used to generate the results can be posted.

The Research Data Centre (FDZ, see https://fdz.iab.de/en.aspx) at the Institute for Employment Research (IAB) of the German Federal 
Employment Agency (BA) has set up a procedure to provide access to non-standard data sets for replication studies. All data sets 
employed in our study are saved for replication purposes at the IAB.
